$USDC
What is USDC?
StableCoin backed by FIAT: USDC is a type of cryptocurrency designed to maintain a stable value. It is "backed," meaning its value is pegged 1:1 to a traditional fiat currency, specifically the US Dollar (USD). Therefore, 1 USDC is always aimed to be worth 1 US Dollar.
The US Dollar represented: You can think of USDC as a digital representation of the US Dollar on the blockchain. It allows users to take advantage of the benefits of blockchain technology (fast, cheap, global transactions) while avoiding the price volatility typically associated with cryptocurrencies like Bitcoin or Ethereum.
A flag pattern is a continuation chart pattern that appears on price charts, consisting of a brief period of price consolidation following a strong price movement.
Components of the flag pattern
- *Strong price movement:* A strong price movement in a certain direction.
- *Consolidation period:* A brief period of price consolidation, where the price moves within a tight range.
- *Continuation:* After the consolidation period, the price continues moving in the same previous direction.
How to use the flag pattern
- *Continuation:* When a flag pattern appears, it can be a signal for trend continuation.
- *Entry:* You can enter a trade in the direction of the strong price movement after the consolidation period.
- *Target:* The target can be determined by measuring the length of the strong price movement and adding it to the breakout point.
